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India raises its repo rate again
The Reserve Bank of India tightened its monetary policy again yesterday, raising the repo rate by 0.25 per cent to 7.5 per cent. It was the 10th time since March 2010 that rates have been hiked, with the Bank saying it will persist with its battle against inflation, even as growth slows in Asia’s third-largest economy. India’s latest rate increase follows on the heels of recent tightening in China and Brazil, and measures are taken to stop emerging economies overheating.